Guideline Value for M.E.S. Road

M.E.S. Road guideline value

The current guideline value of M.E.S. Road is Rs 1,900 per sq.ft, effective from 1 July 2024. This road is located in Sembiam village, under the Sembiam SRO, and is classified as Residential Class II Type - I.

How the guideline value of M.E.S. Road has changed

The guideline value for M.E.S. Road has undergone several revisions over the years. In the 2002 revision, the guideline value was Rs 251 per sq.ft. This increased to Rs 272 per sq.ft in the 2003 revision, marking an 8% rise. The value continued to rise significantly to Rs 700 per sq.ft in 2007, reflecting a 157% increase. The 2012 revision saw the value remain at Rs 1,800 per sq.ft, while in 2017, it dropped to Rs 1,206 per sq.ft, a decrease of 33%. The value then rose again to Rs 1,800 per sq.ft in the 2023 revision, before reaching the current figure of Rs 1,900 per sq.ft in the 2024 revision, which is a 6% increase.

Overall, from 2002 to 2024, the guideline value has increased by 657%. There are no figures available for M.E.S. Road for the years not listed in the register.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for M.E.S. Road is below this median.

• Meersajath Hussain Street: Rs 3,500 per sq.ft (2024)
• Mariya Nayagam Street: Rs 3,500 per sq.ft (2024)
• Mariya Nayagam 5th Street: Rs 3,500 per sq.ft (2024)
• Mariya Nayagam 4th Street: Rs 3,500 per sq.ft (2024)
• Mariya Nayagam 3rd Street: Rs 3,500 per sq.ft (2024)
• Mariya Nayagam 2nd Street: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in M.E.S. Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total fees to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers M.E.S. Road?

The Sub Registrar Office that covers M.E.S. Road is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sembiam

The guideline value is a crucial factor in the registration process when buying or selling property in Sembiam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a value that reflects the prevailing market conditions, thus facilitating a transparent and fair process for both buyers and sellers.

Frequently asked questions

What is the current guideline value of M.E.S. Road?

The current guideline value of M.E.S. Road is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value of M.E.S. Road changed over the years?

The guideline value has changed significantly from Rs 251 in 2002 to Rs 1,900 in 2024, with various increases and decreases in between. The most recent change was a 6% increase from Rs 1,800 in 2023.

What are the stamp duty and registration fees for M.E.S. Road?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,71,000 based on the current guideline value.

Which Sub Registrar Office covers M.E.S. Road?

The Sembiam Sub Registrar Office covers M.E.S. Road, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for M.E.S. Road?

M.E.S. Road is classified as Residential Class II Type - I, indicating its designation for residential development within the Sembiam area.